The Ultimate Novae Money Review. The Pros and Cons of Novae’s Affiliate Marketing, Co-Branding, and White Labelling Businesses.

From Wake Up Now MLM to Fintech Innovation, But Still an MLM.

Some Background on Novae Money.

The story of Novae Money begins with the transition of its founders Reco McDaniel McCambry, Justin Owen, from their roles as distributors for Wake Up Now, an MLM company that experienced its own set of challenges before collapsing under the weight of complaints, FTC investigations, and finally its USA CEO Kirby Cochran and his family sued by the parent company for $10million.

McCambry and Owen along with Dr.Carlton Calhoun then faced the task of establishing credibility and trust in the new venture, a big ask especially considering the connection with Wake Up Now.

Typical of MLMs though, as distributors they had a following they would invite to move with them, and Calhoun was an established player in finance MLMs.

In 2017 while still struggling to get Novae properly established, Novae (on McCambry’s instructions), filed a breach of contract suit against Owens, alleging that he breached the operating agreement by failing to complete his duties as vice president of sales, and working for a competing company, as well as soliciting Novae members to make a move to the competing company.

Such is the life at the top of the MLM tree.

Since then Novae has bounced back with under the guidance of Haziq Ali, the current Chief Marketing Officer.

His experience and innovative marketing strategies have been the engine powering Novae’s co-branding and white-labelling efforts, which have pushed Novae into the limelight of the Fintech class, receiving awards from, Marquis Whos Who, INC 5000, and McCambry being appointed to the National Small Business Association, and becoming a member of Forbes Business Council.

Novae Money Company Details.

Novae Product Line up

Unlike Wake Up Now who were flogging anything that looked profitable, including financial education, travel, health and wellness, Novae deals in nothing but finance, including financial education. Ohh! sorry I found vacations included in the education.

Becoming an Affiliate- Co Branding, or White Labelling

let’s take a look at these one at a time, starting with the MLM version of Affiliate Marketing.

Their product packages range in price, with several different tiers offering varying levels of services. Typical of MLMs their products are expensive, and the interest rates are eye watering.

As an affiliate your job is to sign people up into their various programs for which you will be paid commissions by selling their services, or receive other benefits typical of MLMs, like downline overrides etc.

Costs to Become a Novae Affiliate

The two Branches of Affiliates are Basic and Pro.

Costs of becoming a Basic Affiliate:

As a Pro affiliate you get access to all their programs including financial education, commissions on selling and earning overrides from commissions your downline generates.

As a Basic affiliate you get a financial education product to sell, a couple of apps, a replicated website and commissions on the sales you make.

It seems a strange, because your target market are people who are in financial trouble and your asking them to commit to more!

NOTE: By maintaining an active monthly membership with Novae, Affiliates may receive benefits and discounts not available to the public on specific products and services. Affiliate Pros also have the opportunity to earn group sales volume that count towards compensation qualification and higher amounts of residual income paid to the Affiliate! Affiliates do not earn commission from the direct purchases of other Affiliates except for the White-Label Partner & Business Credit Programs. The list of Novae retail products and services will grow and may change from time to time.“

See the complete details here.

Some Pros and Cons of Novae Affiliate Marketing

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Co-Branding

What is Co-Branding?

In MLM, co-branding is typically used to enhance product appeal, provide additional value to distributors, and improve the legitimacy and visibility of the MLM company.

By offering Co-Branding as a MLM Novae needs to be careful about regulatory compliance. It so often happens with MLMs that the messaging becomes distorted.

It is the nature of the beast that MLMs face scrutiny, and are looked upon with scepticism. So while the idea of Co-Branding may have merit, the underlying nature of the business is the problem.

Let’s take a look at the Pros and Cons of Co-Branding.

Pros	Cons.
Expanded Reach and Customer Base: Selling a product with the vendor’s branding allows you to use their whole story: background, awards, certifications, client base, etc	Brand Mismatch and Conflicts: if the brands don’t align well in terms of values, target audience, or brand message, it can lead to a mismatch, causing confusion and diluting brand identity.
Shared Resources: Consultation, lead magnet, lead capture, email campaign and socials for your business.	Dependency Risks: Reliance on another brand can be risky if that brand faces controversy, reputation issues, or business decline.
Enhanced Brand Image and Prestige: Association with a reputable brand can enhance a company’s image and prestige, potentially attracting a new customer demographic.	Loss of Control: Co-branding may lead to less control over products or campaigns. As well pricing is usually set by the vendor. This may mean less profit for your business.
Reduce resources: With support being taken care of by the vendor, you can reduce expenses tied to hiring support staff	Complex Coordination: Effective co-branding requires high levels of coordination and communication, which can be complex and time-consuming.
Fast on-boarding: Since on-boarding is taken care of by the vendor, you don’t have to worry about producing all the necessary collaterals; you can simply use what the vendor provides.	Dealing with competition: There is a lot more competition; when reselling a vendor’s offering, you have to keep in mind there are many others out there doing the same.

Costs of the Novae Co-Branding Program.

Again there are two options: The basic Co-branding platform and Co-Branding Max.

Co-Branding Basic Costs.

Paid In Full With Discount	No Credit Check Financing
$2499:00	$499 Down Payment.
$1000 Discount off the regular price: $3499:00	+ $160:00 p/mth for 24 mths.
+ $99:00 p/mth Pro Affiliate platform fee.	+ $99.00 p/mth Pro Affiliate platform fee.
	No interest if paid out in one year. (Interest equals 24%)

Co-Branding Max Costs

Paid in Full (with discount)	No Credit Check Financing.
$4,499:00	$999:00 down payment.
Cash Discount off the regular price: $5499:00	+236:00 p/mth for 24 mths.
+$99:00 p/mth. Affiliate Pro platform fee.	+$99:00 p/mth. Affiliate Pro platform fee

I doubt that anyone signing up for these Co-Branding sites would be in serious financial difficulty. Of course the carrot at the end of the stick is the compensation plan which I will get to after a look at the white label costs.

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Novae Money’s White Label Program.

What is White Labelling?

In this scenario you are selling Novae’s products with your company’s brand. White labelling allows your company to sell these products as if they were your own.

It will take about 45 days to fully set up the business websites and get you trained, but still, you need to give careful consideration of the potential drawbacks.

 **Note: If you choose in-office training, you will be responsible for your own travel expenses. Novae will provide lunch and dinner on the days of training.

• Reliance on Novae Money for reliable, friendly service
• Market competition
• The challenges of building a distinct brand in a potentially crowded marketplace

People who choose this option often have an existing business (Real estate, car dealers, etc.), and just add these services. So, most of the set up required is already done, and compared to the earnings as an affiliate, you will be able to take advantage of higher revenue earnings right away by charging whatever price you settle on.

All you pay to Novae, is their processing fees to handle clients behind the scenes.

Let’s take a look at some of the Pros and Cons of White labelling with Novae.

PROS	CONS
You get a market-ready product without the need for research and development.	You have no control over the service quality, which can impact your reputation if the services don’t meet expectations.
White labelling allows you to build and promote your own brand, even though the service is done by another company.	There’s a risk of market saturation, especially if the MLM company sells the white label rights to multiple distributors.
Entering the market with a white-labeled product can be easier compared to developing a new product from scratch, especially in competitive markets.	Since other distributors may be selling the same product under different labels, it might be challenging to differentiate your product in the market.
Since the product is already developed, you can focus your efforts on marketing and selling the product.	MLM businesses often face scrutiny and skepticism due to their business model, which may affect your business’s reputation and the ability to attract customers or new distributors.
Reduces your risk in terms of investment and potential product failure.	You have little to no influence over product formulation, or updates, which can be limiting if market demands change.

The Costs of the Five Novae White Label Options.

Personal Credit White Label Program $10,000

Business Credit and Funding White Label Program: $10,000

Debt Help White Label Program $10,000

Financing White Label Program: $10,000

White Label + CO-Brand Hybrid (Everything): $25,000

System Infrastructure Build over 30-45 days + In-person or remote training with Novae’s corporate officers and managers.

Additional Costs: For the Personal credit, Business credit and funding, Debt help and Financing white label programs, you are able to add other options at $5,000 per module.

$10,000 White Label.

$2,000 down, $8,000 financed for 24 months. $420 per month. No interest if paid off in one year.

$15,000 White Label + One Additional Module.

$2,000 down, $13,000 financed for 24 months. $680 per month. No interest if paid off in one year.

$20,000 White Label + 2 Additional Modules.

$3,000 down, $17,000 financed for 24 months. $890 per month. No interest if paid off in one year.

$24,995 White Label-Co Brand HyBrid

$3,000 down, $17,000 financed for 24 months. $890 per month. No interest if paid off in one year. An additional $4,995 will be due before your program launch.

A quick calculation on the $10,000 plan with $2,000 down, and payments at $420 per month. If paid off over the full 2 years, the interest rate is 34% per annum! (No interest if paid out in one year).

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The Compensation Plan.

The below partial screenshot shows the increased earning potential of white labelling highlighted in green.

So, that is about it. They have gone to a lot of effort in setting this up. The full white label details can be seen here.

The BBB A+ Rating

Novae prides itself on its Better Business Bureau A+ rating, and highlights it a lot in its advertising.

The fact is Novae has been in business for 9 years now and has only been a member of the BBB for a little over 1 year (at the time of writing this).

There are 199 reviews and only 7 complaints, it raises a 🚩for me. Looking through the 5 star reviews, it seems a stack of them were written during the last 3 or 4 days of January 2024. More 🚩🚩🚩🚩🚩🚩

Related article Here.

There are ways and means of making clients loving you, and MLMs are notorious for fudging reviews.

Whatever Novae is doing it has somehow managed to have an almost impossible percentage of positive reviews for any company. As for complaints, it does answer them and demands a retraction of the complaint if the client ignored the fine print.

Should you Sign up to Novae Money

Obviously that is your call. But you are entering shark infested waters.  I mean honestly, paying $50 (Minimum!), a month for a chance to earn money? and you still need a monthly 40 PV (personal volume). 

Granted, most items have a 50PV score, but there are going to be months that are tougher than others.

White Labelling

The finance world for the underprivileged and working poor is a high cost game, where you could be forgiven for thinking you are being punished for not saving your pocket money as a child.

There has long been a discussion on the ethics of financing and debt “renegotiating” or has become a boom business over the past couple of decades or so, particularly for consumer debt.

Although Novae does point out, that it is at arms length from the actual financing, and is simply a site that allows prospective borrowers to apply to be pre-qualified or pre-approved for a loan through a network of lenders, it is understandable that some potential clients could be confused and feel disappointed when they understand this.

When it is all boiled down, Novae is little more than an information store that offers some financial education.

They call it direct selling but much of it could be considered affiliate sales (earning commission on sales)

In many respects you are becoming an “affiliate of the affiliate”. I think we all know, that the further down the food chain you are, the more you pay the less you you receive.

Novae MLM is not a scam, but it is important to be aware of the risks and eye watering costs before joining.

The pros and cons are listed above for Co-Branding and the White Label sides of Novae Money. You might want to look at them again!

There are far better less stressful, less expensive ways of making a dollar than becoming involved with all the complexities of this MLM.